Crossroads Corp for Affordable Housing and Community Dev Inc

Analysis

Crossroads Corp for Affordable Housing and Community Dev Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in May 2009, 17 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Crossroads Corp for Affordable Housing and Community Dev Inc reported income of $1.3m and spending of $1.8m, spending 140% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.7m to $1.3m (-52%), an average of -17% a year. The sharpest change came in the year to December 2022, when income rose by 118%. Over the whole period it spent 90% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Crossroads Corp for Affordable Housing and Community Dev Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within NC. Charities of a similar size with the same main cause include Merrimac Valley Housing Services Inc ($1.3m), Old Man Rivers ($1.3m) and Sasco Creek Development Corporation ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $159k (8.9% of expenses). Other salaries and wages came to $362k. At year end it held assets of $4.0m against liabilities of $827k, net assets of $3.2m. It reported 20 employees.